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Article: Know the rules: home-based businesses strain to comply with the complexity of IRS regulations.(Management Advice)
- Article from:
- Black Enterprise
- Article date:
- December 1, 2004
- Author:
CopyrightCOPYRIGHT 2004 Earl G. Graves Publishing Co., Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The rules and regulations that home business owners must adhere to are more daunting than ever. Particularly challenging are the tax regulations, according to Home-Based Business and Government Regulations, a report compiled for the Small Business Administration by Henry B.R. Beale of Microeconomic Applications Inc. At the federal level, IRS regulations penalize home-based businesses when it comes to deductions, while at the local level, zoning laws and other stipulations present significant barriers to entry. Having to comply with certain building, fire, and health codes can also burden home-based businesses.
Beale's report supports previous research published by ...